Project Management Review Questions

In: Business and Management

Submitted By efthio
Words 1264
Pages 6
ETM 502 – Project Management in Engineering and Technology – Assignment 1

REVIEW QUESTIONS

P18, RQ1 - Define a project. What are five characteristics that help differentiate projects from other functions carried out in the daily operations of the organization?

As PMI have defined, a project is a temporary endeavor undertaken to create a unique product, service, or result.
The characteristics of a project help differentiate it from other endeavors of the organization. The major characteristics of a project are as follows:
1. An established objective.
2. A defined life span with a beginning and an end.
3. Usually, the involvement of several departments and professionals.
4. Typically, doing something that has never been done before.
5. Specific time, cost, and performance requirements.

P18, RQ3 - Why is the implementation of projects important to strategic planning and the project manager?

Today, projects are the modus operandi for implementing strategy, meaning that strategy plans of a company is delivered through the products of project results. Since projects are the modus operandi, strategic alignment of projects is of major importance to conserving and effective use of organization resources. Selection criteria need to ensure each project is prioritized and contributes to strategic goals . Anything less is a waste of scarce organizational resources—people, capital, and equipment . Projects and project management play the key role in supporting strategic goals. It is vital for project managers to think and act strategically.

P50,RQ3 - How are projects linked to the strategic plan?
Strategy is implemented through projects. Every project should have a clear link to the organization’s strategy. Strategy is fundamentally deciding how the organization will compete. Organizations use projects to convert strategy into new products, services, and…...

Similar Documents

Project Management Review Questions

...ETM 502 – Project Management in Engineering and Technology – Assignment 1 REVIEW QUESTIONS P18, RQ1 - Define a project. What are five characteristics that help differentiate projects from other functions carried out in the daily operations of the organization? As PMI have defined, a project is a temporary endeavor undertaken to create a unique product, service, or result. The characteristics of a project help differentiate it from other endeavors of the organization. The major characteristics of a project are as follows: 1. An established objective. 2. A defined life span with a beginning and an end. 3. Usually, the involvement of several departments and professionals. 4. Typically, doing something that has never been done before. 5. Specific time, cost, and performance requirements. P18, RQ3 - Why is the implementation of projects important to strategic planning and the project manager? Today, projects are the modus operandi for implementing strategy, meaning that strategy plans of a company is delivered through the products of project results. Since projects are the modus operandi, strategic alignment of projects is of major importance to conserving and effective use of organization resources. Selection criteria need to ensure each project is prioritized and contributes to strategic goals . Anything less is a waste of scarce organizational resources—people, capital, and equipment . Projects and project management play the key role in supporting...

Words: 1264 - Pages: 6

Project Management Review

... alternative goal to align the project to the organisation’s need for change. Consequently, the internal alignment was to utilise the federal funding towards delivering ABC Corp with a new CMS, which would allow redevelopment of the existing the corporation website within a later project. Identifying stakeholders at ABC Corp is highly important as the ABC Corp organisation structure is a functional organisation. The Project Management Institute (PMI) (2008, p. 28) identified that the project manager in a functional organisation has little or no authority within this structure. That the project manager demonstrated more authority in this instance than is usual, may be due to the consideration of federal funding. The process of identifying stakeholders would prove to be challenging due to the fact that project had external and internal success factors. The key stakeholders identified for the external goals were the planing department, community development department and marketing department. Where as for the internal goals, the marketing department was the only key stakeholder. Other stakeholders with minor interests in the project included the community, the customer service team and the work parks and recreation department. There were some important stakeholders absent, which could have been identified by following the PMI guidelines on stakeholder analysis. Since the project was to release two websites with a focus on community engagement, consultation with the......

Words: 1078 - Pages: 5

Review Question -Mgmt404

...Review Questions Name _________________ Answer the following questions (you may use MS Project Help): 1) What are the three base calendars included in MS Project and what are the default values of each? The three base calendars are Standard, Night Shift, and 24 Hours. Standard default values is all week days from 8 AM to 12 PM then 1 PM to 5 PM. Night Shift is All week days from 12 AM to 3 AM, 4 AM to 8 AM, and 11 PM to 12 AM. Plus Saturday from 12 AM to 3 AM, and 4 AM to 8 PM. 24 Hours is every day from 12 AM to 12 AM. 2) What is the difference between a base calendar and a resource calendar? A bade calendar is for everyone to use while a resource calendar is only for that resource that was assigned to. 3) Why schedule one project meeting after completion of the last task, Test System? Since we were working out the work days in the schedule, it lower the finish date on the project. But since the last project meeting was set to this date it could not be changed. So when we delete it, the project days lower down. 4) Give an example of when you would assign a 24-hour calendar to a resource. When we need that resource to work every day in the given time we need them to. For example a securities guard. 5) If you were doing a senior project, what would be the base calendar you would use for students working on the project and what adjustments would you make to it? If I was working on a senior project there is no set time on when......

Words: 320 - Pages: 2

Review Question

...STRATEGIC MARKETING FOR HOSPITALITY AND TOURISM (HTM 705) Review question chapter 4 & 5 Zeiti binti Muhamud@tan Review question chapter 4 : strategic customer relationship management Question 3. What is involved in estimating customer lifetime value (CLV) ? Customer lifetime value is used to indicate the potential achievement of a business in the future. It is used to examine and analysis customer purchase behaviour which is from before, during and past purchase of the product or service offered. It is a tools that helps business able to predict the future spending that will be made. This CLV also estimate the lifetime of the relationship between customer and the business. The customer feedback about the service and product offered also show level of thier interest to continue or discontinue purchase in the future. The business can take precaution and implement strategy to retain the customer to achieve long term purchase or repetitive purchase intention. To estimate the lifetime value, the business can analyze the pattern of customer purchase on thier product. This consist of several factor such as amount of purchase made. The higher amount of purchase show that the customer is satisfied and enjoy the service or product of the business, and the decrease of amount purchase made show that the business must take action to overcome from losing customer. Next factor that involve in estimating customer lifetime value is frequency of customer purchase of...

Words: 739 - Pages: 3

Project Management Chapter 5 Review

...Week 5 Review Questions March 2, 2013 1. The project manager’s primary attention must be on activities that are on the project’s critical path because if there is any delay at all, it would cause the project to be delivered late. 2. For any activities on the critical path, there is zero amount of slack. For activities not on the critical path, the slack is calculated by subtracting the ES (earliest start) from the LS (latest start) or by subtracting the EF (earliest finish) from the LF (latest finish). 3. To determine the ES for a item with 2 predecessors, the project manager should look at each predecessor to see if either one of them or both of them are on the critical path. The ES is the later of the 2 predecessor’s LF. The LF for an activity with 2 successors is determined by looking at each successor’s LS and determining which one has an earlier LS. 4. All the activities on the project’s non-critical path will not have the same slack because each of them can have different predecessors and different successors and different timeframes. 5. A. 4 B. 2 & 3 C. 5 6. Dummy tasks are used in situations where 2 activities have the same starting and ending nodes to make sure to be able to distinguish between the activities and not have the 2 activities be considered the same activity. 7. Because task d is only 6 days and task c is over double than task d so we can safely assume that a merge problem won’t occur because in all likelihood, task d......

Words: 363 - Pages: 2

Question for Review

... benefits to including it in the hiring process (these will be discussed later in this article). 8.Why might managers today pay more attention to the person-organisation fit that the person-job fit? Most important for an organization facing a dynamic and changing environment, and requiring employees who are able to readily change tasks and move fluidly between teams. It argues that people leave jobs that are not compatible with their personalities. Matching people to the organizational culture at the time of hiring should result in higher employee satisfaction and reduced turnover. Choosing the ideal candidate based on both a combination of job skills and personality to conform to the company or department's culture (work relationships environment) has been part of the psychology-test game during the interview process for a very long time, and it is not just a recent trend. Given the current economic recession, as well as the current unemployment rate, it would not surprise me if there are numerous resumes and applications flooded in for job positions, with many well qualified applicants. From the employers' mentality, from such a pile of excellent applicants, choosing an applicant's personality and attitude is one of the main factors now. Employers and supervisors want someone who will not bring down the team. When I was in management training, one of the best advice I got from an experienced upper manager was, "A person who has no relevant job skills but has a......

Words: 2824 - Pages: 12

Review Question

...CHAPTER 5 EXERCISES (Review Questions) 1. Describe data and process modeling and name the main data and process modeling techniques. During data and process modeling, a system analyst develops graphical models to show how the system transforms data into useful information. The end product of the data and process modeling is a logical model that will support business operations and hopefully meets user needs. Data and process modeling involves three main tools: data flow diagrams, a data dictionary, and process descriptions. Many analysts use a four-model approach, which involves physical model of the current system, a logical model of the current system, a logical model of the new system and a physical model of the new system. * Sequence: One or many of the steps might represent a sub process that contains additional logical structures. * Selection: The completion of one of two or more process steps based on the results of a test or condition. * Iteration: The completion of a process step that is repeated until a specific condition changes. * An example of iteration is a process that continues to print paychecks until it reaches the end of the payroll file. Iteration also is called looping. 2. Describe Gane and Sarson symbols used for processes, data flows, data stores, and entities. Give four examples of typical names for processes, data flows, data stores, and entities. The Gane and Sarson symbol set is used for...

Words: 1337 - Pages: 6

Management Question

...ESSAY MANAGEMENT QUESTION 4 Introduction 200 Main body 1100 Paragraph 1 (366 words) Motivation has usually been defined as a force that encourages certain behaviours, gives direction to certain behaviours and provides ongoing persistence to attain the set goals (Linder, 1998; Islam & Ismail, 2008). Based on this definition, motivation consists of several factors: individuals must be encouraged, they must have a clear aim and they are willing to commit to achieve the objectives. The application of employee motivation in a workplace has been well established by management. However, what forces can influence motivation and how they can be employed to be utilised to encourage certain behaviours in the workplace are not so well understood by many corporations. Hence, it is necessary to analyse some common forces which can be used to influence motivation. According to Fishbach et al. (2010), various forces can lead to different consequences. Positive forces can reinforce certain behaviours as those behaviours usually receive a rewarded consequence. On the contrary, negative forces can also develop certain behaviours which can bring a punishable consequence to prevent these behaviours from reoccurring. So in a workplace, positive forces such as verbal encouragement from management to employees’ performance as well as promotion will increase employees’ goal commitment, whereas negative forces for instance, demotion of employees’ job status and reduction on employees...

Words: 1155 - Pages: 5

Week 4 Question Review

... Imagine the worst possible reports from a system. What is wrong with them? List as many problems as you can. What are the consequences of such reports? What could go wrong as a result? How does the prototyping process help guard against each problem? A poor design report from system may have the following mistakes: * It may have use invalid names. * Not using meaningful titles * Excessive or/ and unnecessary highlighting. * Not using indexing properly. * Communicating with the user in a difficult to understand manner. * To have repetitive data. * Missing audit trail * Ignoring or poor knowledge of: Who will use the report? What is the purpose of the report? When and where is the report need it? How many people will use the report? * NO FEED BACK * Poor Error messages. The consequences of a report with these errors may be: * Waste of time and money. * User confusion * Hard to understand forms * Hard to understand reports * Repetitive data. * Not knowing how to fix error. * No very trustful data – unnecessary data. A prototype is an example that serves as a basis for future models. Prototyping gives designers an opportunity to research new alternatives and test the existing design to confirm a product’s functionality prior to production. A prototype has many benefits, such as the developer and the implementer getting valuable feedback from the user even before the actual project is started...

Words: 426 - Pages: 2

Chapter 2 Review Question

...Gunther Documet 9/14/2015 Applications in Info Security Chapter 4 Review Questions: 1)It might depend on the risk, although all risks should be addressed. The conditions that an organization might have is if they don't have a risk management plan or if they don't have the money to identify and mitigate the risk 2) 3)Alignment is important because it can align organizational goals with ICT works. The benefits to an organization as a whole is that it can align security processes with business goals. 4)Evaluation is important because it can determine if your team is achieving the objectives and this is usually done through gathering data and then analyzing it. Organizations benefit by collecting quantitative data because it can be used to evaluate the options and implications of a decision. 5)A contract is an agreement between a customer and a supplier, while the RFP is technically a bid solicitation. 6)Typically a subcontractor role is to perform specific tasks given by a general contractor. They can be controlled by the supplier to follow the right procedures that are given in the contract. 7)The problem resolution is important because it involves two parties in agreeing that all problems are identified, analyzed, managed, and controlled to resolution. 8)There are two types of reviews: Formal Reviews Informal Reviews In a formal review, the ICT is presented to a team or to an individual before the actual review. In the other hand the informal......

Words: 334 - Pages: 2

Chapter 8 Review Question

...1. How does resource scheduling tie to project priority? a. Resource scheduling is directly tied to the project priority when the priority system selects projects that best contribute to the organizations objectives, within the constraints of the resources available. “If all projects and their respective resources are computer scheduled, the feasibility and impact of adding a new project to those in process can be quickly assessed. With this information the project priority team will add a new project only if resources are available to be formally committed to that specific project” (pg 251). It is paramount that scheduling resources are realistic judgments of resources availability and project durations. For example at my current job, the committee and I are planning a big event that’s sponsored by Macy’s. Before we can go to Macy’s with the project priority, as a committee we had to do the resource schedule such as the cost of everything we wanted to do and our project budget. Reference Larson, E. W., & Gray, C. F. (2014). Project management (6th ed.). Retrieved from The University of Phoenix eBook Collection database 2. How does resource scheduling reduce flexibility in managing projects? For resource-constrained projects, resource scheduling (leveling) reduces flexibility because (after leveling) slack is reduced and the amount of critical/near-critical activities increases; therefore, the number of CP’s may also increase. Further, scheduling complexity...

Words: 642 - Pages: 3

Ch. 1 Review Question

...Ch. 1 Review Questions 1. Redundancy is the duplication of data or storing of the same data in more than one place. Redundancy wastes space and can lead to inconsistencies in information. 2. Nondatabases are time consuming and have a definitive amount of entries that can be made. 3. Entity is a person, place, object, event, or idea in which you want to store data; attribute is a characteristic or property of an entity. 4. Relationship is an association between entities. One to many relationships is when one entity associates with many other entities but many entities associate with just one. 5. Database is a structure that can store information about multiple types of entities the attributes of those entities, and the relationship between the entities. 6. Using common columns in the two tables creates it. 7. Visual way to represent a database. 8. Program, collection of programs through which users interacts with a database. 9. Determine the structure of the required database. 10. Screen objects used to maintain, view, and print data from a database. 11. The DBMS ask questions about desired content and appearance of each report and then creates the report automatically based on the answer. 12. Data of various users can be combined and shared among authorized users, allowing all users to access greater pool of data. 13. A person or group to be in charge of the database. 14. With the database approach, changing a...

Words: 426 - Pages: 2

Solutions to Review Question

... procedures used by a CPA firm that help it meet its professional responsibilities to clients. Quality controls are therefore established for the entire CPA firm as opposed to individual engagements. 2-13 The element of quality control is personnel management. The purpose of the requirement is to help assure CPA firms that all new personnel should be qualified to perform their work competently. A CPA firm must have competent employees conducting the audits if quality audits are to occur. 2-14 A peer review is a review, by CPAs, of a CPA firm's compliance with its quality control system. A mandatory peer review means that such a review is required periodically. AICPA member firms are required to have a peer review every three years. Registered firms with the PCAOB are subject to quality inspections. These are different than peer reviews because they are performed by independent inspection teams rather than another CPA firm. Peer reviews can be beneficial to the profession and to individual firms. By helping firms meet quality control standards, the profession gains if reviews result in practitioners doing higher quality audits. A firm having a peer review can also gain if it improves the firm's practices and thereby enhances its reputation and effectiveness, and reduces the likelihood of lawsuits. Of course peer reviews are costly. There is always a trade off between cost and benefits. A CPA firm also gives up some independence of activities when it is reviewed by......

Words: 34360 - Pages: 138

Unit 1 Review Question

... row of logic and control tiles that can be used to put branching, looping, and other logical structures into the algorithms that will make up an object’s methods.  The Events Area – The Events area in Alice is above the Editor area. The Events area shows existing events and is used to create new events. An event consists of a condition, called an event trigger, and a method, called an event handler. Whenever the event trigger occurs, the event handler is called into action. Chapter 2 Review Questions 5. How does the practice of object-oriented programming encourage the development of reusable code? Reusable code makes programming easier because you need to develop the solution to a problem only once; then you can use that code whenever you need it. You can also save the modules you have developed and reuse them later in other projects, modifying them if necessary to fit new situations. Over time, you can build libraries of software modules for different tasks. All computer programs, from the lowest levels of an operation system that directly control hardware to the most complex user applications, are made up of layers of short programming modules that are constantly reused in different situations. Object-oriented programming, by its very nature, encourages the development of reusable code. Objects created for one project can be reused as needed for other projects. 8. What are the differences between primitive methods and user-defined methods in Alice? Which of these......

Words: 641 - Pages: 3

Project Management Chapter 1 Review Questions

...Chapter 1: Review Questions 1. What is a project? It is a temporary effort intended to create a unique product, service, or result. 2. What is project management? It is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. 3. How are projects different from ongoing operations? Projects are temporary and unique while operations are continuous. Operations are an ongoing process to ensure that an organization continues to work effectively. For instance, operation managers can often use checklists to guide much of their work, but project managers rarely have checklists that identify all of the activities they need to accomplish. 4. What types of constraints are common to most projects? Time and budget constraints are common to most projects for clients, and the amount of resources available and the decision maker’s risk tolerance are constraints from an internal point of view. 5. Which deliverable authorizes the project team to move from Selecting and Initiating to Planning? The approval of a charter 6. At what stage of a project life cycle are the majority of the “hands-on” tasks completed? At the execution stage 7. During which state of the project life cycle are loose ends tied up? During the Closing stage 8. What are the five process groups of project management? Initiating, planning, executing, monitoring and controlling, and closing 9. Which process...

Words: 868 - Pages: 4